Roadking Travel Centres Inc. - Sale of Calgary Travel Centre

    CALGARY, July 24 /CNW/ - Roadking Travel Centres Inc. ("Roadking" or the
"Corporation") announced today that it closed the sale of its Calgary Roadking
Travel Center effective July 15, 2008. The transaction resulted in net
proceeds to the Corporation of approximately $9,800,000, subject to certain
post-closing adjustments. With the completion of this transaction, the
Corporation has ceased conducting business as an owner and operator of travel
centers and will engage in the pursuit of alternate business opportunities.
    Net proceeds from the transaction will be used to pay out the remaining
business obligations of the Corporation, inclusive of income tax, the
remaining financial debts ongoing business expenses outstanding as a result of
continuing operations until closing. Thereafter, it is the intention of the
Corporation, subject to compliance with all legal and regulatory requirements,
to make available a portion of the remaining cash position of the Corporation
to its shareholders and use the balance of the net proceeds to pursue and
invest in new strategic business opportunities that will enhance shareholder

    "The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release."

For further information:

For further information: Greg Spicer, Chief Financial Officer, Roadking
Travel Centres Inc., Telephone: (780) 417-9405, Mobile: (780) 953-6742,
Facsimile: (780) 417-9449, e-mail:, Website:

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890